Sugar and starch company Agrana has reported a rise of 3.5% in revenue in the first quarter ended 31 May at €282.1m, it said today (Friday), but lower prices and high exports meant a fall in operating profit.
Go deeper with GlobalData
The rise in revenues reflected rapid growth in the group’s specialities segment, where the newly acquired Wink und Steirerobst groups were accounted for as consolidated members of the group, having not been included in the scope of consolidation in the same period of the previous financial year, the company said
Because of lower sugar prices and high but less profitable sugar exports, the group’s first-quarter profit from operating activities was below the previous year’s excellent figure of €19.3m at €18.4m. Its first-quarter consolidated earnings came to € 13.7m (Q1 2004/05: €14.0m).
